what is MOT?

MOT stands for Memorandum of Transfer. It is the legal document used in Malaysia to transfer ownership of a property from the seller to the buyer. The MOT is prepared by a lawyer and must be stamped at the Stamp Office, after which it is presented to the Land Office or Land Registry to register the transfer in the buyer's name. Key points about MOT: - It is required for all property transfers, whether for new launches or subsale properties. - The MOT includes details of the property, the parties involved, and the sale price. - It must be signed by both parties in the presence of witnesses. - The stamp duty and registration fees are payable before the transfer is completed. - The buyer is responsible for the stamp duty and legal fees associated with the MOT, unless otherwise agreed. If you are purchasing a property, your lawyer will handle the preparation and stamping of the MOT. It is an essential step to ensure you have legal ownership of the property. A licensed agent from this community can provide specific advice tailored to your property transaction.